Some embodiments described herein relate generally to transaction management systems, and more particularly, to methods and apparatus for increasing efficiency of code based transactions by reducing transaction times.
For example, in typical stock markets, clients initiate transactions on codes (e.g., stock symbols), referred to as tickers (also referred to as transaction codes or codes interchangeably). The transactions may include placing a new order, canceling an existing order, or updating an existing order. Furthermore, devices with high levels of reliability that receive the tickers and perform the actual transactions, referred to as matching engines (also referred to as destination engines), may host (e.g., perform matching process on) multiple tickers. In known transaction management systems, a gateway (e.g., a gateway server) in the data transaction path implements the functionality of looking up a ticker and directing the ticker to an appropriate matching engine where the ticker is hosted and matching process is performed. With high volumes of transactions, however, the gateways can introduce excessive latency and as a result transaction times may drastically increase.
A need exist, therefore, for methods and apparatus to increase transaction efficiency by reducing transaction time.